Convicted Ex-Head of Valut-Transit bank dies in Karaganda

February 11 2013, 11:19

Ex-Head of Valut-Transit bank Andrey Belyaev. Ex-head of Valut-Transit bank Andrey Belyaev, convicted and sentenced for 10 years of colony for the theft of bank’s funds, died in Karaganda, reported IA Novosti-Kazakhstan, citing the source in the UIS Penal Enforcement Department of the Karaganda Oblast.

“Early in the morning the ex-head of Valut-Transit bank Andrey Belyaev has suddently died. The preliminary cause of the death is myocardial infarction,”- reported the source to the agency.
Andrey Belyaev was convicted in June 2011 on charges of establishing an organized crime group, abuse of authority and embezzlement of bank funds. According to the bank liquidation commission Belyaev squandered 922 million 915 thousand tenge for publication of his own poems’ book, refurbishment of his house, buying expensive cars and overseas travels.

This was his second prison term. He had already served a 3,5 years term, but the prosecutor’s office presented new charges against him.

The total debt of the ex-banker in front of thousands of investors is more than 14 billion tenge.